News

Capelin could start next month

The results of work by the Marine Research Institute between 24th September and 8th November indicates a capelin spawning stock of 630,000 tonnes. The Institute has recommended an initial quota of 200,000 tonnes, on the principle that the spawning stock needs to be a minimum of 400,000 tonnes.

Vilhjálmur Vilhjálmsson, head of HB Grandi’s pelagic division, has welcomed the Institute’s findings and said that there are plenty of hopes pinned to the possibility of a further quota following more research in the New Year.

Last season HB Grandi’s vessels had a 20,505 tonne share of the quota. The company’s share of 200,000 tonnes is 27,000 tonnes, assuming the Minister follows the Marine Research Institute’s advice. This takes into account that Iceland shares its capelin fishery with Norway, the Faroe Islands and Greenland, who between them have a 28% share of the fishery.

How does HB Grandi expect to manage its capelin quotas this season?

‘We expect to catch some capelin in December and hope that the Marine Research Institute will be able to recommend a further quota in January,’ he said, adding that although the quota recommendation is encouraging, this is only a fraction of the amount of capelin landed in the past.

‘The first season that HB Grandi was in existence in its present form, after the purchase of HB and the merger with Tangi and Svanur ehf five years ago, the company’s capelin quota was 144,000 tonnes,’ Vilhjálmur Vilhjálmsson said.